Chinese Estates Group
Chinese Estates Group is a real estate development group based in Hong Kong. The group comprises three Hong Kong publicly listed companies : Chinese Estates Holdings Limited (Stock Code: 127), Chi Cheung Investment Company, Limited (Stock Code: 112) and G-Prop (Holdings) Limited (Stock Code: 286).
| Type | Real estate |
|---|---|
| Industry | Real estate |
| Founded | 1986 |
| Headquarters | Hong Kong Special Administrative Region |
Key people | Joseph Lau (Chairman & ) |
| Products | offices and retail |
| Revenue | HK$ 2,151.3 million (2009)[1] |
| net_income = homepage = |
Historically, Chinese Estates Group has been focused on the Hong Kong market, but has more recently expanded into neighbouring Macau and mainland China.[2]
In July 2010 the group was reported to be in exclusive negotiations to acquire Tower 42, an office tower in the City of London, for a reported sum of around £300 million.[3]
Operations
Total revenues for 2009 totalled HK$2,151.3 million. As of 31 December 2009 the property portfolio was valued at HK$8,564.3 million. The current portfolio comprises retail and office assets totalling around 1,000,000 square feet (93,000 m2) and 1,200,000 square feet (110,000 m2) respectively. The group also has a landbank of approximately 30,000,000 square feet (2,800,000 m2) to be developed in Hong Kong, Macau, and in mainland China.